SelectQuote, Inc. (NYSE: SLQT) announced the closing and receipt of proceeds from its $350 million strategic investment on February 28, 2025. The investment was made by funds managed by Bain Capital, Morgan Stanley Private Credit, and Newlight Partners.
The company utilized $260 million of the proceeds to pay down its outstanding term loan. This action significantly reduces SelectQuote's debt obligations and strengthens its financial position.
With the completion of this transaction, SelectQuote now has over $100 million of available liquidity. Chris Wolfe of Bain Capital Insurance and Srdjan Vukovic of Newlight Partners have also been appointed to the Board of Directors, bringing additional expertise to the company.
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